XRP Breaks Below $2.20 — Is a Bounce Back in the Cards?
XRP rose from $2.050. Price is back over $2.10 and may struggle to get beyond $2.20.
Above $2.120, XRP price rose again.
The price is above $2.150 and the 100-hour SMA.
The hourly XRP/USD chart shows a bullish trend line with support at $2.080.
The pair may rise if it closes over $2.20 barrier.
XRP Price Struggles
Like Bitcoin and Ethereum, XRP stabilized over $2.00 and rose. Price rose over $2.020 and $2.080 barriers.
The pair broke $2.150 and soared over $2.20. However, bears were active over $2.20. After hitting a peak of $2.215, the price is correcting. The price fell below $2.00, but it is still above the 23.6% Fib retracement line of the upward run from the $1.910 swing low to the $2.2150 high.
The price is above $2.150 and the 100-hour SMA. The hourly XRP/USD chart shows a bullish trend line with support at $2.080.
Price may find resistance at $2.20 on the upside. First big resistance is at $2.220. The next hurdle is $2.250. A clean break over $2.250 might push the market above $2.320.
More advances might push the price toward $2.350 or $2.420. The bulls may face $2.50 next.
Another Drop?
XRP may fall again if it fails to break $2.20. Around $2.150 is first downward support. Near $2.080 is the next important support.
If the price breaks below $2.080, it may fall below the $2.020 support or the 61.8% Fib retracement level of the upward run from the $1.910 swing low to the $2.2150 high. Near $1.950 is the next important support.
Tech Indicators
Hourly MACD - XRP/USD's bullish MACD is declining.
XRP/USD's hourly RSI is over 50.
Major Support Levels: $2.150, $2.080.
Major resistance levels: $2.20, $2.250.
